The list of backers also includes a few Indian high-net-worth individuals including Chandu Nair, cofounder of KPO firm Scope e-Knowledge Center.

The list of backers also includes a few Indian high-net-worth individuals including Chandu Nair, cofounder of KPO firm Scope e-Knowledge Center.

BENGALURU: Social business incubator Villgro has achieved first close for its impact fund Menterra Venture Advisors that it has launched for making early-stage investments in healthcare, energy, agriculture, education and skilling startup companies.

The fund will invest Rs 1-3 crore in each company including follow-on rounds. The fund will have a final corpus of Rs 40-50 crore by the time it makes its final close in March 2017, said PR Ganapathy, cofounder and adviser, Menterra Venture Advisors. ET had in September 2014 first reported Villgro’s plans to set up an impact fund. The list of backers also includes a few Indian high-net-worth individuals including Chandu Nair, cofounder of KPO firm Scope e-Knowledge Center, and Meenakshi Ramesh, who works with Pratham Education Foundation.